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Media Release: Resale Royalty Scheme Review Report
The Morrison Government has released a report from the Review of the Resale Royalty Right for Visual Artists Act 2009 and associated Schemewhich shows that it is delivering on its purpose to provide financial returns for Australian artists.
The resale royalty right provides Australian visual artists with rights similar to other creators, such as songwriters or authors, who receive royalty payments from their work.
Minister for Communications, Cyber Safety and the Arts, the Hon Paul Fletcher, said the report provides an informative analysis of the initial stages of the of the Scheme’s operation, from 2010 to 2013.
“The report found that the Scheme is delivering its key policy objectives of providing financial returns to individual artists, and recognition of their ongoing rights in their work,” said Minister Fletcher.
At the time of the report, the Scheme delivered $2 million in royalty payments to 780 artists and rights holders. Living artists had received 95 per cent of royalties by volume and 74 per cent by value, and Aboriginal and Torres Strait Islander artists 65 per cent of royalties by volume and 49 per cent by value.
By way of comparison, the Scheme had returned $7.8 million in royalties to 1,899 artists and rights holders as at the end of November 2019, which shows a significant expansion in the Scheme. Living artists had received 87 per cent of royalties by volume and 46 per cent by value, and Aboriginal and Torres Strait Islander artists had received 64 per cent of royalties by volume and 38 per cent of royalties by value.
“I commend The Copyright Agency for its efficient and effective administration of the Scheme, including its ongoing engagement with artists and art market professionals,” said Minister Fletcher.
The Scheme, as legislated under the Resale Royalty Right for Visual Artists Act 2009, entitles visual artists to five per cent of the price of eligible artworks resold commercially for $1,000 or more. The right applies to artworks by living artists and for 70 years after an artist’s death.
The report is available at: www.arts.gov.au/funding-and-support/resale-royalt-scheme